Barack Obama net worth

Net Worth: $11.5 Million

About Barack Obama

Barack Hussein Obama is the fourty fourth President of the US. In November 2012 he was reelected for the second term and is a current President of the country. He is the first man of his race to be elected to this office. Barack is loved by many not only for his politics, but also for his charm and sense of humor. Based on analysis of his 2012 financial disclosure forms, Barack Obama net worth is over 11,5 million, and that is after he has donated 1.4 million Nobel Prize money to charity.

Obama was born in Honolulu Hawaii (Honolulu), and named after his father, Kenyan economist. He graduated from prestigious Columbia University, later Harvard Law School. When he was working for his law degree in Chicago Obama was a community organizer, latter he served as attorney for civil rights. In 1992 a would-be president started teaching at the University of Chicago. Obama remained constitutional law lecturer right until 2004, when he started a political campaign to be elected a representative of the state of Illinois in the United States Senate.

That is when he received a national attention, but not when his political career began.

Obama was elected to the Illinois Senate already back in 1996, reelected to the position of state senator in 1998 and after a two-year gap again in 2002. However, as for the year 2012, members of the Illinois House of Representatives are paid around $70.000 per year, thus it is safe to say, that the career in Illinois Senate is not where the current Barack Obama net worth comes from.

After the year 2004, Obama’s career developed at the speed of light. In 2007 he began his presidential campaign, and the next year, after the close battle against Hillary Clinton in primary elections he won enough votes to receive the presidential nomination from Democratic Party. As everyone knows, the same year he was elected the 44th President. However, the annual salary of the President of United States is “only” $400 thousand. It raises the question: how to explain Barack Obama net worth is nearly $12 million, where all this fortune comes from?

The answer is pretty simple, though unexpected. Barack Obama net worth comes primarily from his books sales. Through his first historic run for presidency Obama has sold millions of copies of Dreams of My Father and The Audacity of Hopes. Some 100.000 more were sold during the first week of his presidency. Predominantly due to the book sales his annual income rose from $1.7 million to $4.2 million 2008 and $5.5 the next year. Some people predict that Barack Obama net worth is just beginning to grow- being so popular after his presidency he could earn a fortune by simply giving speeches.